Loan a go for Morenci store

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By Daily Telegram staff

The Daily Telegram - Adrian, MI

By Daily Telegram staff

Posted Jan. 26, 2013 at 8:00 PM

By Daily Telegram staff
Posted Jan. 26, 2013 at 8:00 PM

ADRIAN

ADRIAN — Lenawee County commissioners voted 8-0 Thursday to support a proposed $105,000 loan from the county’s business revolving loan fund to help finance a hardware store project in Morenci. No objections were voiced at a public hearing.

The county loan is part of a $362,000 financing package for the purchase and expansion of Johnson’s Gambles in Morenci. Jeremie Peters said he and his wife expect to complete the purchase as soon as mid-February. The name will be changed to Hometown Hardware, he said, and three jobs are expected to be added when the business adds lumber and a rental center.

“It’s something I’ve been looking forward to for years,” Peters told commissioners during the hearing.

It is important to the city of Morenci and local residents to keep that business as a vital part of the local economy, said commissioner Cletus Smith, R-Madison Twp. “It’s a needed asset down there.”